How peer to peer feature works in local ethereum?
The world is walking towards through digital assets like bitcoin, ethereum, and dash etc. The Crypto Traders usually give more importance to security where they can reliably buy and sell their cryptos. If you are a new one to the crypto world surely the will be slight confusion between which crypto exchange platform is better to trade a centralized and decentralized exchange platform?.
Let's have a deep discussion about what is a centralized exchange platform and decentralized exchange platform?
What is a centralized exchange platform?
A centralized exchange platform run by a profit-oriented business model that generates revenue from its fee structure. They can use fiat currency to buy or sell the crypto. In a centralized exchange platform, the trader does not have permission to access the private keys of their wallet accounts.
What is a decentralized exchange platform?
A decentralized exchange platform does not have a third-party to hold trader funds or crypto. Instead, trading occurs directly between trader through an automated process is called a smart contract. An advantage of a decentralized exchange is that users are not required to share their personal details, except in the case. When the trading process involves in bank transfer and even in that state your identity is disclosed to an individual who is selling or buying bitcoins from you.
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Now, we have a unique business model for you can have both centralized and decentralized platform in one crypto exchange platform.
Don’t be confused let look at below we cleared explained all your question
What is localethereum?
A localethereum is a peer to peer market place where the trader can trade ether to fiat currency. The special concept in this exchange platform is an end to end encryption chat and decentralized escrow system.
How does p2p trade works in localethereum?
The p2p local ethereum trade held securely in a few steps.
1. The buyer and seller agree on the term of condition in localethereum exchange website.
2. The seller wants to places the Ether into a Localethereum escrow wallet through smart contract. This proof shows that they going to sell the Ether.
3. The buyer makes their payment to seller after confirms the payment. At the end escrow is released ether to the buyer wallet.
Generally, In localethereum exchange platform are not allowed to cancel the trade or withdraw their funds from escrow.
If something is a problem, either two-party anyone can raise a dispute. Localethereum then brings in a third-party(escrow) and gives them the keys to decrypt the communication between the parties. After looking at the communication, the thrid-party(escrow) reaches a decision.
I think you attracted through this type of business model we are providing localethereum exchange platform services to set up your crypto exchange business.
What are the features we are provided with our local ethereum exchange website services?
Let see below we mentioned our advanced features like
Domain Name System Security Extensions (DNSSEC)
DNSSEC is a set of protocols that authenticate all domain name system (DNS) queries. DNSSEC exploits the combination of public keys and digital signatures to validate the authenticity of data. It can reject unwanted entries from a fraudulent website.
Web Protocol Security
HTTP Strict Transport Security (HSTS) helps ensure all browsing sessions have HTTPS protocols.
X-Frame-Options is prevented your content to be don’t merged into other websites, safeguarding against clickjacking attacks.
X-XXX-Protection is prevented against cross-site scripting attacks.
A secure, stable white label solution for safeguards all digital exchange information by layered architecture improved security protocol for all trader in exchange platform.
A ready-made UI/UX toolset is provided to customize your exchange site appearance.
The options like KYC/AML is used to know the customer information while in trade.
We are providing extra addtional features like
Two Factor Authentication
Multiple Coin Support Wallet
Automatic matching engine
Payment Gateway Integration.
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